South Africa survives junk rating, but only just

Systemic corruption, excessive reliance on the courts, and risk of judicial overreach will erode institutional strength, and weigh on growth in South Africa, said Moody’s on Friday as it lowered the country’s rating to Baa3 from Baa2.

  • By Virginia Furness
  • 12 Jun 2017
South Africa is already junk rated by both Standard & Poor’s and Fitch, which dropped the country’s credit rating following an unexpected cabinet reshuffle which saw the sacking of respected former finance minister Pravin Gordhan. Bondholders appeared unperturbed by the move from Moody’s with the country’s dollar curve ...

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3 JPMorgan 51,301.18 218 8.69%
4 Deutsche Bank 28,030.86 110 4.75%
5 Standard Chartered Bank 24,459.20 176 4.14%

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4 Bank of America Merrill Lynch 10,472.96 39 8.63%
5 Santander 9,788.30 38 8.07%

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1 JPMorgan 23,995.47 81 12.77%
2 Citi 22,605.09 78 12.03%
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4 BNP Paribas 10,065.46 30 5.36%
5 Deutsche Bank 9,721.98 26 5.17%

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2 Bank of America Merrill Lynch 2,624.57 11 8.01%
3 UniCredit 2,390.81 17 7.30%
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5 Sumitomo Mitsui Financial Group 2,180.06 9 6.65%

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